Staple foods in 2024: The big picture
2024 has presented a challenging year for consumers and players alike in staples in the US. While economic uncertainty and conservative spending, coupled with lifestyle changes and slowing prices, are set to contribute to retail volume recovery in a few key categories, overall retail volume sales of staples in the US are expected to be flat.
Key trends in 2024
Trends in staple foods in 2024 have predominantly been informed by the tense economic climate. First, value-seeking consumers, discouraged by stubborn unit price growth, have been driving demand and expansion for private label.
Competitive landscape
Shares are expected to remain relatively stable in staple foods in the US in 2024, with leading companies holding onto their rankings despite supply chain disruptions, geopolitical unrest, recalls, and strong unit price growth. While small shifts in ranking are expected across various categories, truly notable shifts have been limited to rice, pasta and noodles.
Channel developments
Shifts across retailers have continued to slow as shopping habits have settled after the pandemic era disruption. While retail e-commerce is set to continue to gain share in categories such as pasta, overall growth in actual terms is expected to continue to moderate.
What next for staple foods?
The performance of staple foods during the forecast period will be influenced by how companies work to close the gap between actual price and perceived value to consumers. Undoubtedly, factors such as geopolitical unrest and climate change will cause continued price increases due to rises in commodity prices and operational costs.
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Overview:
Understand the latest market trends and future growth opportunities for the Staple Foods industry in USA with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Staple Foods industry in USA, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Staple Foods in USA report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Staple Foods in USA?
- Which are the leading brands in Staple Foods in USA?
- How are products distributed in Staple Foods in USA?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Staple Foods?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in USA?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Staple Foods in the US
Staple foods in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for staple foods?
DISCLAIMER
Baked Goods in the US
KEY DATA FINDINGS
Values are up, yet volumes decline in 2024
Trends towards functionality and sustainability in baked goods
Competitive landscape becomes more polarised
Food insecurity to play into baked goods
Value-seeking behaviour to continue amongst consumers
GLP-1 drugs might impact baked goods
Breakfast Cereals in the US
KEY DATA FINDINGS
Volatile pricing and lifestyle shifts bring a continued volume downturn for breakfast cereals
Children’s breakfast cereals leans on nostalgia in the struggle for demand
Functional health claims evolve as consumers remain distrustful of ambiguity
Fluctuating lifestyles to maintain pressure on volume sales
Private label and creative branding to play a key role in re-engaging consumers
Opportunities in wellness trends and functional claims for branded products
Processed Fruit and Vegetables in the US
KEY DATA FINDINGS
Volatile supply chains bring a mixed performance
Volume rebound for frozen fruit as consumers seek nutritional sweet treats
Foodservice growth slows as consumers return to at-home experiences
Production challenges to remain a consistent threat to prices
Volume recovery to face mixed benefits amidst socioeconomic instability
Areas of opportunity for private label, and for convenient products
Processed Meat, Seafood and Alternatives To Meat in the US
KEY DATA FINDINGS
To increase volumes, unit prices decline for the first time in years
Meat and seafood substitutes struggles to regain momentum
Company shares and rankings remain stable
Unit price adjustments in an uncertain future
Legislation likely to increase production costs
Increasing maturity for meat and seafood alternatives
Rice, Pasta and Noodles in the US
KEY DATA FINDINGS
Instant noodles sees growth despite strong price rises
Rice reeled from the impact of strong price growth, but a rebound is seen in 2024
Growth in pasta cooled by chilled products
Tense economy to drive demand for higher quality at affordable prices
Novelty to make way for “normal”, as brands customise flavours for broader appeal
Ingredients to remain a key opportunity for growth for niche premium brands
The following categories and subcategories are included:
Staple Foods
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- Packaged Flat Bread
- Unpackaged Flat Bread
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- Packaged Leavened Bread
- Unpackaged Leavened Bread
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- Packaged Cakes
- Unpackaged Cakes
- Dessert Mixes
- Frozen Baked Goods
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- Packaged Pastries
- Unpackaged Pastries
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- Sweet Pies and Tarts
- Frozen Cakes, Sweet Pies and Tarts
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- Hot Cereals
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- Children's Breakfast Cereals
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- Flakes
- Muesli and Granola
- Other RTE Cereals
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- Shelf Stable Beans
- Shelf Stable Fruit
- Shelf Stable Tomatoes
- Shelf Stable Vegetables
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- Frozen Fruit
- Frozen Processed Potatoes
- Frozen Processed Vegetables
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- Shelf Stable Processed Red Meat
- Shelf Stable Processed Poultry
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- Chilled Processed Red Meat
- Chilled Processed Poultry
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- Frozen Processed Red Meat
- Frozen Processed Poultry
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- Shelf Stable Seafood
- Chilled Processed Seafood
- Frozen Processed Seafood
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- Chilled Meat and Seafood Substitutes
- Frozen Meat and Seafood Substitutes
- Shelf Stable Meat and Seafood Substitutes
- Tofu and Derivatives
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- Chilled Noodles
- Frozen Noodles
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- Instant Noodle Cups
- Instant Noodle Pouches
- Plain Noodles
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- Chilled Pasta
- Dried Pasta
- Rice
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Staple Foods
NOTE: Couscous, polenta and quinoa are excluded from staple foods.
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This report originates from Passport, our Staple Foods research and analysis database.
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